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Saturday 26 July 2014

Heathrow earnings rise 22pc on higher Asia, Middle East traffic

Published 21/10/2013|08:16

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The explosion prompted LA airport officials to temporarily halt security screening, which led to the delay of up to four departing flights

BRITISH airport operator Heathrow Ltd reported a 22.1pc rise in earnings today, boosted by higher passenger traffic to Asia and the Middle East.

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The owner of Heathrow, Southampton, Glasgow and Aberdeen airports said adjusted earnings before interest, tax, depreciation and appreciation (EBITDA) rose to £1.035bn for the nine months to Sept. 30, from £848m in the same period in 2012.

"Strong passenger satisfaction and passenger numbers have driven strong growth in cash flows, funding current investment of almost 4 million pounds a day in improving the airport for passengers and airlines," Chief Executive Colin Matthews said.

Heathrow, majority-owned by Spanish infrastructure group Ferrovial, said the number of passengers passing through its airports rose 3.6pc to £54.8m over the period, while net retail income per passenger increased 2.6pc to £6.18m.

There was no repeat of last year's summer dip in demand for short-haul flights to Europe during the London Olympics, it said.

The company said it was reconsidering its investment plans following a proposal by Britain's aviation regulator to cap the prices charged by London's Heathrow airport - the country's busiest - as it would reduce returns to below the level at which shareholders were willing to invest.

 

Reuters

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